BlackRock Seeks In-Kind Redemption for iShares Bitcoin Trust
- Nasdaq’s proposed rule change under the Securities Exchange Act of 1934 allows authorized participants to redeem Bitcoin holdings in-kind.
- The in-kind model is expected to enhance the efficiency of Bitcoin ETF trading.
- BlackRock’s IBIT holdings surpassed $60 billion, reaching a $50 billion milestone in December 2024.
- Recent inflows for BlackRock’s Bitcoin ETF were $661.9 million on January 21, and $344.3 million and $154.6 million on January 22 and 23, respectively.
- On January 24, IBIT recorded over $2 billion in trading volumes within hours.
The proposed rule change aims to improve the efficiency of Bitcoin ETF trading by allowing in-kind redemptions, with BlackRock leading this initiative as its IBIT holdings continue to grow significantly.
Source (2.6)https://coingape.com/blackrock-files-for-in-kind-redemption-for-ishares-bitcoin-trust/?rand=24432
